Chemical news · Three minutes a day
Wednesday, September 23, 2026
Lead Story
Turkish Military Pension Fund OYAK Eyes Foreign Partnership on Energy as It Expands BusinessTurkish military pension fund OYAK is negotiating a strategic partnership with Saudi Aramco for its fuel distributor Guzel Enerji, aiming to expand into production and refining by 2030.
Novo Nordisk CEO Mike Doustdar forecasts oral obesity drugs may comprise half the global market by 2030 as the company advances five oral treatments. Holding over 80% of new oral prescriptions, Novo aims to leverage its patent-protected oral Wegovy against competitors focused on injectables.
Barentz BV appointed Phia Shuan Heng as head of personal & home care for Southeast Asia and expanded Rushina Dudhwala's role to strengthen APAC leadership and customer relationships effective September 21.
Dangote Group has engaged Engineers India Ltd. to oversee a $16 billion greenfield refinery and petrochemical plant in Kenya. The 700,000 barrels-per-day facility aims to enhance East African fuel production and reduce import reliance.
JPMorgan CEO Jamie Dimon warned the US against punishing India over Russian oil purchases, citing refinery constraints and market disruptions. He noted new US legislation could impose tariffs, complicating India's ability to replace significant crude volumes.
Major traders Vitol and Trafigura demand deeper discounts on Venezuelan crude as global freight rates surge to record highs following geopolitical tensions, squeezing margins despite stable export volumes.
US battery startup EnerVenue commenced mass production at its new Changzhou facility, bypassing a planned Kentucky plant due to superior supply chain depth and lower costs. Backed by investors including Saudi Aramco, the firm targets 1 gigawatt-hour annual capacity by 2027.
ECB Chief Economist Philip Lane warns that surging oil and gas prices will drive persistent euro area inflation through mid-2027. The energy shock exerts upward pressure on food and general goods, prompting potential further interest rate tightening.
Hu Qiming, former chairman of Zhongwu High-Tech's subsidiary Zigong Cemented Carbide Company, is under investigation for serious disciplinary violations following his resignation two months prior. The company operates a complete tungsten industry chain from mining to high-end material manufacturing.
French President Macron and Donald Trump discussed halting energy strikes in the Ukraine-Russia conflict, citing rising diesel prices and Houthi attacks on Saudi oil pipelines. France plans to secure Red Sea export routes to prevent escalation.
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